Vast Renewables, a Sydney-based clean energy technology firm, has raised an undisclosed amount in fresh funding. The investors were not disclosed.
The company plans to use the capital to advance its flagship Port Augusta Green Energy Hub in South Australia and expand its international project pipeline. The hub will integrate multiple clean energy projects aimed at delivering dispatchable renewable power and supporting industrial decarbonisation.
The development includes:
VS1 Concentrated Solar Thermal Plant – A 30MW plant with eight hours of storage capacity. It has received up to A$290 million in conditional support from the Australian Government, including an A$180 million grant from the Australian Renewable Energy Agency (ARENA). Construction is expected to begin later this year.
140MW Lithium-Ion Battery – Developed in partnership with 1414 Degrees, this two-hour battery project will provide storage and grid stability. Construction is also planned to start later this year.
South Australian Solar Fuels (SASF) – A demonstration facility targeting the production of low-carbon hydrogen-based fuels for aviation and shipping. Vast Renewables continues to lead the project following the completion of the pre-FEED stage by MB Energy. The project has secured A$700,000 in funding under the Australia-Singapore Low Emissions Technologies (ASLET) initiative.
Led by CEO Craig Wood, Vast Renewables develops on-demand renewable energy and clean fuel platforms using proprietary technology. Its systems deliver utility-scale carbon-free heat and power for grid decarbonisation, green fuel production, and hard-to-abate sectors.
The company is also conducting a separate capital raise targeting institutional and strategic investors, with Rennie Advisory managing the process.
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By Proptechbuzz
By Ravi Kumar